This book explores the argument for and against one of the most provocative policy proposals in the international economic policy arena – the Tobin Tax. The tax proposal, named for the late Noble Laureate and Yale University professor James Tobin, would impose a small tax on transactions in foreign currency and possibly a broader array of financial instruments. The New Rules for Global Finance Coalition organized a conference in January of 2003 to discuss the desirability and feasibility of imposing a transaction tax on foreign currency and various other financial instruments. The purpose of the conference was to clarify the issues raised by the policy proposal and invite NGOs, scholars and interested individuals to explore possible points of consensus. The conference opened with a debate that covered the entire range of issues, and then followed up with sessions that addressed specific key issues such as the feasibility of implementing the tax and the effectiveness of the tax in achieving greater stability in financial markets. This book is a collection of the conference papers and presentations plus two primers designed to introduce people to the Tobin tax and the issues it raises.
Book Chapters: 1) Introduction; 2) The Economic Case for the Tobin Tax; 3) Lessons for Tobin Tax Advocates: The Politics of Policy and the Economics of Market Micro-structure; 4) How Can A Currency Transaction Tax Stabilize Foreign Exchange Markets?; 5) Securities Transaction Taxes and Financial Markets; 6) Currency Transactions Taxes: A Brief Assessment of Opportunities and Limitations; 7) Tobin Taxes: Are They Enforceable?; 8) Overcoming the Tobin Tax’s Implementation Problems: Tax Cross-Border Capital Flows, Not Currency; 9) Applying a Securities Transactions Tax to the US: Design Issues, Market Impact, Revenue Estimates; 10) Understanding the Silence Amid Turmoil: The Tobin Tax and East Asia; 11) Where Do We Go From Here?
Author: Thomas I. Palley, Randall Dodd, Bruno Jetin, Andre Kirilenko, Ilene Grabel, Dean Baker, Howell H. Zee, Robert Pollin, Young-Chul Kim, Maureen Hinman,
Binding: Unknown Binding
Manufacturer: New Rules for Global Finance Coalition
Number of pages: 184
Product group: Book
Studio: New Rules for Global Finance Coalition
Publication Date: 2003
Publisher: New Rules for Global Finance Coalition